the syrian army and its allies liberate the last stronghold in syria bringing the terror groups and self-proclaimed caliphate. grow into a way station in barcelona it is seen demonstrators block key roads in chief mike pompei o comes under fire for meeting a former intelligence official who says last year's hack of the democratic party was an inside job rather than a. monarch top sex on our national it is the kaiser report but if you're in the u.k. and ireland stick around for boom bust. yes

. unless. that's tell them it does. and yet all this wealth confiscated a sleeping on of air b.n. b. it's. yes matt time that we're recording this prince albert lead been tell all is under how many say he's at the ritz in riyadh sleeping on and. he's a major shareholder of twitter citi group and fox but the interesting thing about this after he had dissed bitcoin as fraud and part of the reason why he's governments don't control it so he then goes on to prove that one would want big coing or saudi crackdown widens as more bank accounts said frozen apparently there's about thirty three billion dollars at the time were recalled by m.b.a.'s as the new crown prince some say is going to seize absolute control

he has seized thirty three billion dollars worth of assets. all will lead been to lao had about seventeen billion dollars and assets so i don't know how much of those are frozen or allegedly frozen a.f.p. news agency at the time over the weekend when the. arrests and asset seizures happened saudi say bank accounts of those arrested in corruption crackdown to be frozen so their bank accounts are frozen. chaos seems to be happening is funny in a way but on the other hand it's not funny because it looks like there could be some sort of you know world war three about to erupt in the middle east this guy is of but ok he said big clients don't good because they're still central government there's still such a thing and then a week later the central bank of the central government rips out all those that were if you had a bit coy he would have a problem he's like a poster child for why i should buy bitcoin anyone is thinking about should i buy

bitcoin look at this poor idiot sleeping on a mattress with a ritual telegraphs arrest because he didn't listen to me ok furthermore he's overrated as a money manager wealthy dude he's just a warren buffett wannabe he got bailed out in two thousand and eight two thousand and nine just like all those other crooks on wall street. he's got no accutane whatsoever he's got a bunch of oil wells he buys strategic positions of big companies big frickin bill but he talks like an idiot and now he's paying the price for districts that toshi well beyond that actually i think it's quite interesting because we've been here in washington d.c. and we don't usually watch the nightly news but we have because we've been in a hotel and turned it on and it's not even on the news here none of this is on the news which seems remarkable but the fact that like dozens of these princes and royal family members are under house arrest under it's arrest. at least two princes have been killed in bizarre one

a helicopter crash the other in some sort of shootout with the police they say i mean all of this is allegedly but it's so bizarre that is not being covered on the nightly news even though it's allegedly such a close ally of america and quite important to not only the oil markets but the entire middle east. then we have the situation where the likes of the guardian in the u.k. are bizarrely pushing all these weird things that this is somehow the great reformist the new crown prince is arresting all these people and throwing people out of helicopters and having gun fights with other princes because of some sort of anti-corruption drive which seems really bizarre to witness the absolute shut down in the media of covering this i don't know why but they are choosing not to cover it love if you're a saudi prince and you buy the top seven floors of the dorchester every year for you and your entourage of fifty or sixty or so then you're

a reformist when you're out there you know killing folks and doing a massive power grab and mucking about in the world markets if however you're just emerging economy that's trying to make good on trade deals and grow from two hundred billion to one and a half trillion to five chilean dollars out there in eurasia good relations with europe good relations with china good relations the red you know you have cyrillic in your alphabet and you've got a good hockey playing leader then somehow you're a bad guy because you're not down you know by seven floors the dorchester on a weekend for your whole entourage of fifty flying with a helicopter and spending maharani time money you know it's a total duplicitous nightmare and this is all we want to do is an overrated puts ok well let's go back to him because this is this is when i was looking at some of the coverage of prince all you've been tell all so he's the one of the grandsons the many dozens and dozens of grandsons are like five thousand princes he's

a grandson they get out of condoms over there what's wrong with these people the founder of saudi arabia so here's a headline i read over the weekend and it comes to this paragraph which is so shocking and yet the fact is shocking in that what is an acceptable author terry and what is an acceptable dictator. what is an acceptable sort of way to rule a country to some segments of the press here and yet not to others so listen to this paragraph about who this guy is who is our lead been told all the absurdly rich prince at the center of the saudi corruption purge as i said he was born in one thousand fifty five grandson of the first king of saudi arabia his holdings in twitter lift your disney and twentieth century fox luxury hotels across the world a tower under construction in saudi arabia that will soon be the world's tallest building or his opulent palace where business insider once reported the prince kept a quote group of dancing laughing joking dwarfs and his entourage occasionally

tossing them around a sport like human shop puts. this like what like he goes on all the media here and is hailed as some like warren buffett he's just a fiddle wing fiddle player sort of the cute guy from saudi arabia he's a warren buffett of saudi arabia and apparently they can also say he's like has he . these are door yeah these are dwarf which is not politically correct well you know it goes back to the financial crisis two thousand and nine remembers people were searching for ways to grow their economy and it was in florida that they made legal again dwarf tossing it had been illegal yes probably where he got the idea yet i don't now harp too much on this point the point is that you know the duplicity of the sort of principles applied to certain countries if depends on who is flowing the cash to you here saudi arabia you know they've they've suffered

dearly under the price of oil collapsing they have a very hungry population because they don't get to you know they have seven thousand princes to support tens of millions of ordinary citizens to support as well they did have to borrow something like one hundred billion dollars last year on the international bond markets thirty three billion dollars could pay off a third of it at least also on this article about prince i will lead they also do say because here's a guy who took on president trump a lot of the conspiracy theorists from like the likes of m s n b c in new york times here in the united states what they're saying is that somehow donald trump had something to do with the arrest of princess will lead them to law because he had insulted the president on twitter and here they say in the article talking to locals in saudi arabia will lead is the donald trump of saudi arabia an expert on the saudi royal household forbes last year he may be a symbol of success for some saudis but many others view him as being way to god so

well he's a vulgar little garin like the trump asked. but you know trump is a kind of a hard scrabble guy from queens who took on the establishment in manhattan and he had to fight his way up sometimes getting penalized two or three shots on the back nine of westchester country club to make his billions this guy was born with a silver camel in his mouth and he grew up to be even more outrageously. overly priced as part of the petro dollar arrangement from one nine hundred seventy one where america decided to annoyance these saudi people with hundreds of billions trillions of dollars worth of money in exchange for the oil that was the quid pro quo that is now the architecture of the global economy and gave us as a corollary to this one hobby ism that was the that was the trade off to say we'll do the dollar oil petrodollar but you've got to accept wahabi ism and then when

things start afresh a they sent a little hello no to loved zero nine eleven saying remember us we're your partners and they've been keeping america out of their boot and now trump comes in and says you know what this is really do things a little bit here and he said he greenlit this could do in saudi arabia's actually and now the whole thing's being re architected as it should be yeah because he did donald trump did tweet right before this all happened that he would like the saudi aramco i.p.o. the other joint you know they touched your soul the photo they touched your that was the green light to let the coup go well so he was pitching for businesses all business at the end of the day because remember the united kingdom was also selling vast quantities of cider fighter jets and weapons to saudi arabia that they were dropping on yemen and hoping in exchange that they would get the i.p.o. the business for saudi aramco. and now apparently the united states has thrown their hat in the ring so it's all business at the end of the day but it's interesting to watch again the fact that the mainstream media here doesn't seem to

know how to cover it yet because they're just not covering it. they don't know how to cover it yet because it distorts their parallax view of the world such as around the in tractable evilness of russia look there is a third rail in the region that if anyone puts their foot on to the third rail they're going to be fried quicker than you can say you know harvey weinstein in the bathroom and that would be a rant if anyone decides to actually pick a fight with iran you know prepared to meet i make or there's been waiting for war for twenty years they've been but they think they've got an incredible ability to take on these joe out of the middle east you know that that would be the absolute suicide mission well it is shia and the sunni decide hey let's go at it told the tow ok trump brings out on that and he if he was sick well it would bring and i went to saudi arabia has way more advanced military so it's you know we have they have all the best weapons from the united kingdom and the united states however who

are however allies however it doesn't you know i don't i'm not picking a side or anything like that that's beyond it but the fact is that the media has been pushing for a war they want to war and maybe they're going to get the war that they don't want because we still are you know we're still we're still in afghanistan we can't even control afghanistan and all they had were sticks and stones they don't have any weapons and we still can't control that country we still can't control iraq we can still we still like libya is a disaster zone so why we went on up another disaster zone i don't know but that seems to be what is happening and it looks like now saudi arabia this new crown prince is now the largest shareholder of twitter but it'll be good for the oil market exactly a well oiled oils are already telegraphing this huge move oh i guess of oil prices though those rolls a blast well stay tuned for the second half a lot more. in

case you're new to the game this is how it works in our economy is built around corporation corporations run washington the washington post media the media and the voters elect a businessman to run this country business equals power who must it's not business as usual it's business like it's never been done before. we all willingly accepted the risk of being shot wounded taken prisoner but no loopholes signed up to be free again poisoned by our own people of seeing stuff that was nuclear biological and chemical products the said do not find the truck tires all types of styrofoam polystyrene batteries trucks there was

a complete denial i think at all levels of government that there was any connection between berm pits and what these brave soldiers were suffering from to compensate every soldier marine airman and sailor that was on the ground that are complaining about illnesses from their exposure from the burn pits would really literally send a v.a. broke and they don't want to pay it so the waiting in decades a lot of those soldiers will die in time and they will have to pay and. call for help and get the middle finger to move used to model is. delayed and i hope you don't. already howdy welcome back to the kaiser part time to continue our discussion with dr michael hudson author all around nice guy he's

a i do you would you consider yourself a new yorker dr michael hansen absolutely not i've never felt comfortable in new york i was born in minneapolis and my father got out of jail we moved to chicago and i grew up there well oh whoa whoa whoa when your father got out of jail what he was one of the minneapolis seventeen sent up the day before pearl harbor for advocating the advocacy of the overthrow the government by force and violence which meant that he was organizing the teamsters union and the roosevelt administration made a deal with dan tobin to turn the teamsters union over to the mob and apparently there was a deal with the russians that if they get the government would throw the minneapolis trotskyist and jail in minneapolis was the only city in the world where being a draft guest was a career advancement opportunity that they promised not to have strikes during world war two so that the stalinist sort calling for the death penalty against the smith effect later was used against them after world war i world war two so any right my father was one of the many after seventeen and then we moved to chicago i

love chicago i still think of that is my basic city and when i think of which direction i am i mean i still act as if the hudson river is like michigan and except that that's on the west instead of the east so i'm always talking we were just in minneapolis and i did a little reading up on the city so it is on the top of the the the the river there they mississippi river is at the very top and it made his bones on processing mill milling flower it off and they created bleached flower which then they ran into trouble with the bleach flower they were it was determined scientifically that bleach flower was no good for you and that people came in with a full nd. the flower with the full. not the whole grain the whole grain flour and so so what what was a labor conditions like at that time because obviously that story plays into right to mean minneapolis was the center of labor history in the one nine hundred thirty

s. ok you had a general strike there and one hundred thirty four one hundred thirty six there's a book about that charles rumford walker's american city that describes that you had the whole general strike and that was that became as i said the only trotskyist city in the world so this isn't a depression it's actually yes and he had a blow up in the twenty nine crash and you quickly entered into the depression and trotskyists and communists and other forms of governments and economics other than capitalism were in the ascent because it was considered they wall street was a collapse of the capitalist ideal so you had these competing. schools suddenly in america and it gave rise to art an anti-communist we saw mccarthy in the fifty's as really a holdover from that period correct and we saw. you know reagan was also out of that school of fighting the communists you know he built

a huge political career out of it from the from there is where. you have the and then this labor. was was there much of all morgan i's labor in america before then of course in the night late nineteenth century and eugene debs the socialists you had at the center of labor organization was in the midwest because that's where the manufacturing was it happened in minneapolis because it's not very populated the truckers were the big industry there there was a lot of violence you had floyd b. olson who was the governor who said he hoped the capital system goes right to hell and so he was reelected as governor it was all destroyed when the right. kamen led by hubert humphrey on the far right right that's exactly right now is his task to the presidency i guess right to show that he was a good double cross or he was sort of an early obama type speak left and then slammed down very hard on the right right so this is fascinating piece of american

history so so many apple asus is an under told story i would say people are familiar with chicago and what happened in the thirty's obviously organized crime people are know the history of organized labor and the new york and the longshoremen and of course as long as labor then became corrupt in a big it was infiltrated by the mafia essentially that was largely roosevelt stilling and it was done because of his fight against the teamsters in minneapolis right he wanted it the only alternative to having the socialists organize the libyans was to have the mafia organize a labor unions by saying if you're you're the head of the labor unions you get to say who's hired you get the kickbacks you get everything that fitch wrote about in his study of the labor movement so it's very much like in japan when america back. against the socialist japan had a very strong socialist movement mcarthur came in backed all of the most right wing

japanese militarists japanese and the gangs the gangs the fight against socialists and that's why you have japan in the story state that it ended a when it comes to industrial on the state and the steel mills. so it's an interesting areas of focus you know the thirty's and seemingly in minneapolis i mean there's organized labor before but then it became a threat in a big way because the capital system was collapsing i mean i guess before that it was more of an adjunct to the overall economy where ok we're going to organize labor labor you know they invented the weekend for example organized labor without their organized labor we'd have no weekend right and we have no hollywood. and the entertainment industry had no theme parks you know had no vacations you know they it's a huge part of the economy america was invented in effect by labor and then when the thirty's post crash you know it really became it became more politicized in

that sense so did did the organ labor organize at that point were they always referring back to. a leninist marxist reference no no not at any point remember minneapolis is very largely scandinavian so you had a lot of scandinavians there. in new york you'd have basically central europeans and truth or going i think. the garment trades and the labor unions but in minneapolis you had a completely different ethnicity with a different national background and they had a kind of scandinavian sense of fair play my father said that who graduated from the university of minnesota with an m.b.a. he said it was the rover boys stories that gave him a sense of fair play and you know that the rover boy being the american boy stories of the early one nine hundred thirty sure algeria that place and that is our second later in the know that all at that same idea of everybody being fair and kind of

how little kids would play with the german rock while depiction of america the stone honest so well you know was a stalinist yes what yes i didn't know that that he was one of their funders. that's the only learning things here today that are shocking what so anyway to get back to the narrative here so it is thirty so i what was there an individual a person where labor in america suddenly did start to overly referenced marxist leninist doctrine. not really an example of your dad you know when i was even my father when i was a little kid i would my father would take me over to the houses of a lot of leaders including people who were on the central committee of the common turn when lenin was in power and being a little out of maybe eight or nine years old that always look at the library and they always had a marxist capital in the library and i'd always go and look at you know open it up

and nobody had ever read a single they'd never been opened before especially volumes two and three had never been opened one maybe but not volumes two and three so the fact is they had them on the shelves but they didn't rate it so now you know your career took you through wall street you were a credit analyst for chase manhattan bank just about all of who else was going to be a an economist on wall street except a marxist i'll tell me more law would you say such so you know that it's all about exploitation and if you go to a business school and you think everything's fair and you don't understand that it's exploitation and crooks and you know how the system works the marxist being outsiders we could look at the system and of course we were the forward planners in the futurist because we were looking at how society would change and the business schools would tell people is not going to be any change everything's going to go just the way it is that's what we call equilibrium and we marxists are always looking at this equilibrium so we could of course forecast all of. credit in terms

of how effectively it could be extractive i was saying how much could be extracted and at what point will the break come and that certainly all volume three of capital that credit. mark pointed out interest bearing debt grows exponentially but the economy only grows on the next curve and tapers off so every economy creates debt faster than the ability to pay and that through the break so i have some are says is a quintessential critic of capitalism yes it out of our studies very call this book capital right so and so as a philosophy it's not really presenting a political construct although many have chosen to use it as such he looked at the laws of motion so it's not a construct is a single building it's the law of motion it's the result work of the flow of work of communist countries gone wrong because you know they've people have tried to adopt the systems that were the entity assists of capitalism or of the different

capitalism so far we haven't seen much success many succeed what's what's going wrong there well right after when and stalin killed everybody who'd read marx oh ok so the. things you know since the one thousand twenty's russia has known nothing knew nothing about marxism and it was the. all over the world has been tried in london especially in other countries other hemispheres in other places marxism in a way. really think so i mean certainly. socialism is a step towards that and there are i mean so everybody thinking wrong another was my question is what would if you were starting a country today what or convert america to a different system because obviously the system now is attractive it's compound of the debt ad infinitum and it's causing huge wealth and income gaps and it's not working in many different ways and so if you were to come back and you're a marxist scholar effectively you know what would what would be a couple of the points to that would build

a sustainable economy that what is stifling the economy today is finance and it's the growth of debt and it's the inability of debt to pay that is leading to a huge transfer of property which would. let's say the m.g.m. sorry modern terry thing monetary siri yes which is i guess that's a solution in your book yes but i go beyond most of the empty years because i divide the private sector into the fire sector the finance insurance and real estate is opposed to the industrial so we've got a lot of just describe m.m.j. . and that's a lot of the school in kansas city is you find the m.m.t. people like yourself bill black i think is there yet marshall auerbach marshall all marxists and he said the bard. was a lovely woman let me into this i was talking about it stephanie stephanie kelton she's in this all so in thirty seconds kind of break it down for us what it is that banks or the government create money simply electronically it's not

a thing money is debt and the way that you create money in the economy is create depth by one party to another if the government spends money into the economy it's been that directly on infrastructure and hiring goods and services hiring labor to produce something on the line is money then only a christian may not like a central bank to lend it to the government it could pay the treasury the interest of a centrally the treasury used to be the central bank the federal reserve broke the treasury off to put money creation in the hands of wall syria or that. put put the treasury in control once again write the treasury would issue money but if you leave money creation to the banks and dodginess money and steve kean who you often have said the banks lend money only then when money to spend on goods and services they spend money for corporate takeovers to inflate real estate prices so government money creation is different purpose for from private bank money is going

to leave it there dr michael and thank you. alan us an idea for this edition of the kaiser report with me max kaiser stacy i would like to thank our guest dr michael hudson if you want to reach us on twitter it's kaiser report and next time. in terms of foreign policy donald trump has already earned himself the title the low expectations president this title is now being put to the test during his tour of asia because the u.s. is status quo power in the asia pacific region. for oil challenging china. they all. fell. asleep to almost all the food. bowl cut.

oh wow.